HANDAL REGISTERS RM11M NET LOSS IN THIRD QUAR­TER

The Sun (Malaysia) - - SUNBIZ -

PETALING JAYA: Lower rev­enue across all busi­ness seg­ments and a fur­ther im­pair­ment loss pro­vi­sion of rig as­set amount­ing to RM11.93 mil­lion re­sulted in Handal Re­sources Bhd reg­is­ter­ing a net loss of RM11.05 mil­lion for the third quar­ter ended Sept 30, 2016 com­pared with a net profit of RM42,000 in the pre­vi­ous cor­re­spond­ing pe­riod. Rev­enue was down by 17.2% from RM22.9 mil­lion to RM18.97 mil­lion. In a fil­ing with the stock ex­change, Handal Re­sources said its per­for­mance is ex­pected to be chal­leng­ing for the cur­rent fi­nan­cial year in view of the global oil sup­ply con­tin­u­ing to in­flu­ence the in­dus­try out­look.

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